Ripple sent higher by record gains in Ether

Since the last update here on the progress of XRP, the price peaked when it rose to as high as 1.9648. When it was up there a warning was issued here on the perilous state of the technical position, stating that the coin was in a critically overbought position. That is because the Relative Strength index was way above 90. Well, that warning was certainly warranted because after that it fell back below $1. The price based out at 0.893 and that move certainly redressed the relative strength index in a big way. Well, since then it has been on the rebound again and today that has taken it quite significantly higher. Of course the move comes as this one is a favourite amongst investors, and its easy to understand how it can track the gains seen in Ether so far this week. The price has now lifted to above $1.75 today. That has effectively surpassed the final Fibonacci retracement level that was in place at 1.7122. So does that open a door to a new 2021 high above 1.9648? Well for sure it does and already tongues are wagging on that elsewhere, suggesting a move above $2 is about to unfold. For whatever it is worth the current 14 Day RSI is now at 63.80 so it is in a far more neutral positon now. XRPUSD is currently trading at 1.6875